Nevertheless, Bettinger made clear that the service will be targeted at investors who are fee sensitive and prefer online access over a personal relationship with an advisor or broker.

“This is a solution to meet the needs of a different client” than Schwab has now, Bettinger said.

He added that the firm has had discussions with a number of its independent RIA firms about the robo platform.

“As one would expect, among 7,000 [RIA] firms, there are firms extremely interested in this [and] some that are not interested,” he said.

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